Ten-Day Rule

Definition: [crh] The New York Stock Exchange rule permitting member firms (brokers) to vote in favor of management ten days or less before the meetiDefinition: ng, provided that the member firm mailed proxy material to beneficial owners at least 15 business days before the meeting. The rule allows many sharesDefinition: A> to be voted, which would otherwise not be, to reach a quorum, approve the choice of directors and auditors and handle other routine matters. This rule does not apply to banks, their nominees or thDefinition: eir depository positions, nor to non-routine proposals such as approval for the corporation to issue more shares.

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